November 2018 Market Update – Downtown San Diego (92101)

November 2018 Market Update – Downtown San Diego Condo Market

Inventory has decreased slightly for the second month in a row, but typically a larger decrease is anticipated as we head into the holiday months. If you look at the inventory curve in the months of November and December, we saw a very large drop. Last month was the second lowest number of sales we have had in a 14 month period. We had 24.3% less sales when compared to October of 2017 and there were 82 more listings on the market this year. We also saw a large decrease in the number of homes that went into escrow in October.

Despite the decrease in sales, the average sales price in downtown shot up to $715,049, which is the highest it has been in the last 14 months.

As the market heads towards a balanced market, now more than ever it is important to work with a professional! Learn how to avoid common mistakes sellers are making in Downtown San Diego so you can net more money when selling your home! There is a difference between listing your home and selling it for top dollar.